Mobile Fast Food Stall Business Plan: Analysis, Finance, and Promotion

This assignment presents a comprehensive business plan for a mobile fast food stall, analyzing various aspects of entrepreneurship. It begins with an introduction to the business idea, highlighting its advantages such as eliminating high rental and utility costs and the flexibility of prime locations. The assignment then delves into positive and negative macro environment factors, including flexible competitiveness, government policies, social and cultural forces, demographic factors, and technological advancements. It explores different sources for generating business ideas and identifies the chosen approach. Furthermore, the assignment discusses three forms of finance (personal savings, capital from asset sales, and credit card/personal finance) and their sources. It identifies five elements of the promotional mix (advertising, public relations, social media marketing, direct marketing, and customer recommendations) and explains how they can be utilized. The assignment also examines five factors influencing pricing (overhead costs, staffing and labor, raw materials, capital investment recovery, and target profit margins). The conclusion emphasizes the importance of careful evaluation before finalizing and implementing business plans. The assignment concludes with a bibliography of cited sources.

8/26/2017
Student Name
Proposed Business Idea – Mobile Fast Food Stall

Contents
Introduction.................................................................................................................................................2
Provide comprehensive descriptions of your proposed business idea by highlighting.................................2
Positive and Negative Macro environment factors......................................................................................2
Flexible Competitiveness........................................................................................................................2
Government Policies...............................................................................................................................2
Social and cultural forces........................................................................................................................3
Demographic factors...............................................................................................................................3
Technological Advancement...................................................................................................................3
Explain the different sources available for generating new business ideas and highlight the one you
adopted........................................................................................................................................................3
Describe any three forms of finance and their sources that you may consider using for your chosen
business idea................................................................................................................................................3
Personal Saving.......................................................................................................................................3
Capital from Assets Sales........................................................................................................................4
Credit Card/ Personal Finance.................................................................................................................4
Identify any 5 elements of the promotional mix and discuss how your business can utilize them...............4
Advertising..............................................................................................................................................4
Public relations........................................................................................................................................4
Social media marketing...........................................................................................................................4
Direct marketing......................................................................................................................................4
Customer recommendations....................................................................................................................4
Five factors which will influence your businesses pricing...........................................................................5
Overhead costs........................................................................................................................................5
Staffing and labour..................................................................................................................................5
Raw materials..........................................................................................................................................5
Capital investment recovery....................................................................................................................5
Target profit margins...............................................................................................................................5
Conclusion...................................................................................................................................................5
Bibliography................................................................................................................................................6

Introduction
Food is a basic necessity for every person and people are always ready to indulge in great food
and treats making it a lucrative business idea. This makes it the perfect business to consider
starting up and highly likely to succeed if the idea is well planned. Some of the major factors
leading to business failure are a high rental, labour and utility costs but the following business
proposal helps eliminate these added expenses and helps convert the business success rate from
25% to over 70%. The proposal involved starting up a mobile fast food stall which would
eliminate rental and utility costs allowing the venture to rapidly expand with low capital (Sant,
2012).
Provide comprehensive descriptions of your proposed business idea by highlighting
As opposed to traditional food stalls and restaurants, starting a mobile fast food stall helps
eliminate monthly over heads costs like rental, labour and utility bills. In addition to cutting
costs, the food van delivers incredible flexibility by allowing the business owner to set up shop at
prime locations without needing to pay high rents. The business would target central business
and shopping districts consisting of high population densities and would be mobile thus allowing
the fast food stall to move to different locations, allowing the business to tap into a maximum
number of clients (Gagliardi, 2006). There are already multiple mobile food stalls in most major
cities but the demand for good, tasty and hygienic food is still high leaving lots of opportunities
for new businesses to be established and expand.
Positive and Negative Macro environment factors
Some external Macro environmental factors likely to influence the business include:
Flexible Competitiveness
The fast food stall would be capable to visit prime locations and events which maximize sales.
Government Policies
The fast food vans require specialized and additional licensing such as a mobile food staff
hygiene clearance certificate.

Social and cultural forces
Would need to target a universal social and cultural clientele thus not be capable of
specialization
Demographic factors
Would not have fixed locations, therefore, needing to inform loyal clients on their daily route
plan and location
Technological Advancement
Heavily dependent on mobile technology, applications and networking for communication to
inform clients of daily menus and location.
Explain the different sources available for generating new business ideas and highlight the
one you adopted
Opportunities to start up a successful business are all around us but the entrepreneur needs to
maintain an open mind towards identifying the opportunities (Publications, 2014). Today the
internet has helped open up huge opportunities for every individual leaving it upon the individual
to search for available opportunities to start a business and generate high income. Business
opportunities should not be limited to availability of capital but rather should focus on the
availability of resources and how they can be exploited to generate income. The internet and
digital technologies can here for be termed as being the most important resources which can be
used by entrepreneurs the identification information and ideas for highly demanded businesses
Describe any three forms of finance and their sources that you may consider using for your
chosen business idea
Capital is a basic requirement any entrepreneur requires to start a business’s venture, three forms
of finance and entrepreneurs should have access to be listed below (Macchiavello, 2017).
Personal Saving
The first option for financial funding to start businesses should be the savings. Every person has
the potential of generating income through employment which allows them to gradually save
money to invest in the business.

Capital from Assets Sales
Invest extra income and savings into non-cash assets such as property, Gold, and diamonds.
These can be cashed later to deliver financial capital.
Credit Card/ Personal Finance
Maintain a good credit rating which will help deliver quick access to personal loans and finance
Identify any 5 elements of the promotional mix and discuss how your business can utilize
them
Advertising
The business would be advertised on the local news channels and print media which would
create awareness among local clients regarding the new business (Lamb et al., 2011).
Public relations
The business owners and staff must build a close relationship with each of their customers. This
allows the business and clients to build a connection and helps promote customer loyalty.
Social media marketing
The social media can be used to update loyal customers on the day's menu and available
locations thus helping increase customer turnout.
Direct marketing
Their business would also have a staff member distributing fliers to pedestrians and office staffs
in the regions which will help create additional awareness.
Customer recommendations
Happy customers are an important promotions element as they help to recommend a business if
satisfied with products and services. Keeping the customer happy is there for important
promotional tools which the business would rely on to promote it clientele.

Five factors which will influence your businesses pricing
Overhead costs
Pricing is greatly influenced by a business’s overhead costs. The need to pay rent, Staff wages
and utility bills all contribute towards determining the finish products or services costs.
Staffing and labour
Staffing and labour are also contributed towards determining a business product or service costs
making it important to establish a business which has access to an abundance of skilled
professionals rather than dependant on a handful of individuals.
Raw materials
Raw materials availability, quality, and purchase also contribute towards finished products and
services pricing.
Capital investment recovery
The rate at which capital investment is recovered also determines a finished products pricing.
Short recovery periods resulting hiking the finished products prices to secure higher profits.
Target profit margins
The targeting profit margin also determines the finished products final costing. Low profits mean
more affordable products while high-profit returns hike the finished products pricing.
Conclusion
Identifying and starting up a successful business is influenced by many factors making it
important each is carefully evaluated before the businesses plans are finalized and implemented.

Bibliography
Gagliardi, G., 2006. 9 Formulas for Competitive Business Success: The Science of Strategy. 1st ed. Seatlle:
Science of Strategy.
Lamb, C.W., Hair, J.F. & McDaniel, C., 2011. Essentials of Marketing. 7th ed. Mason: Cengage Learning.
Macchiavello, E., 2017. Microfinance and Financial Inclusion: The challenge of regulating alternative
forms of finance. Oxon: Routledge.
Publications, P., 2014. Entrepreneurship and Starting a Business. Toronto: Productive Publications.
Sant, T., 2012. Persuasive Business Proposals: Writing to Win More Customers, Clients, and Contracts.
3rd ed. AMACOM Div American Mgmt Assn.